- BitMine Immersion Technologies (BMNR, Financial) purchases 100 Bitcoin, initiating its Bitcoin Treasury strategy.
- The acquisition was funded by the company's recent common stock offering that concluded on June 6, 2025.
- CEO Jonathan Bates confirms plans for continued Bitcoin acquisitions.
BitMine Immersion Technologies, Inc. (BMNR) has announced the initial purchase of 100 Bitcoin (BTC) as part of its new Bitcoin Treasury strategy. This move marks a significant step in the company's long-term investment plan centered around Bitcoin accumulation.
The acquisition was financed through the proceeds from BitMine's recent public offering of common stock, which closed on June 6, 2025. This strategic use of capital demonstrates the company's commitment to building a substantial reserve of Bitcoin, leveraging both mining operations and capital-raising activities.
Jonathan Bates, CEO of BitMine, expressed enthusiasm for the company's first public market purchase of Bitcoin, indicating that additional acquisitions are expected in the future. This decision aligns with BitMine's focus on becoming a key player in the Bitcoin network by further expanding its holdings in the cryptocurrency.
BitMine operates primarily in regions with low-cost energy, including Trinidad, Pecos, and Silverton, Texas, optimizing its costs for Bitcoin mining. The company's comprehensive business model includes synthetic Bitcoin mining, advisory services for Bitcoin-denominated revenues, and general advisory services for public companies seeking to engage in the burgeoning digital currency space.
